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Paying off debts which are currently under a DMP
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So, just to revisit this. Have managed to get 60% reduction from one of the 4 and 40% from another.
However, two of them are refusing to budge, insisting they are happy for the DMP to run it's course.
So, my options are to pay them both off (£7000 in total) or leave them as they are and leave the DMP in effect and carry on paying as I do now.
Can anyone tell me the pro's and con's of leaving the DMP to run? £7000 is a lot of money, and due to something else we have going on, it would help that something else, as if I repay the 7k we will have to borrow the same amount on a short term loan to push the something else through to fruition.
I will still be paying the overall same amount to the DMP, so the 2 remaining will get more a month as the other 2 will not be being paid.
Hope that makes sense?
thanks0
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